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Bitcoin To Reach New ATH In 2020 Following A Massive Sell-off: YouTuber MMCrypto Trader’s Digest

YouTube becomes an important video-sharing platform for the cryptocurrency community by the day. More and more people are starting to produce quality content, covering the field in its numerous aspects.

If you’ve been following Bitcoin-related videos on YouTube, there’s a high chance that you’ve heard and stumbled upon MMCrypto’s channel. It’s among the fastest-growing channels on the platform, and it covers a broad range of topics spanning from technical and fundamental analysis to exciting news, interviews, and tutorials in the field.

CryptoPotato got the chance to interview with Chris, the face behind MMCrypto.

MMCrypto shares his approach to the market, his long-term predictions, as well as some interesting views on the overall cryptocurrency industry.

Q: When did you first hear about and join the crypto space? What amazed you about Bitcoin and the crypto world?

I heard about Bitcoin many years before I started in 2016. The reason for me not to get involved back then was that this topic was pushed to me exclusively by MLM Marketers or Cloud Miners. This was something I didn’t want, for sure. However, after I graduated in Economics with a professor who was a former central banker and very critical, I began to understand the flaws of the financial and monetary systems. Bitcoin being a solution to that was what amazed me the most!

Q: What’s the most important lesson that beginning traders should learn from the 2017 crypto bubble burst?

Let me start with a quote from Warren Buffett. “Rule No.1: Never lose money! Rule No. 2: Never forget Rule No.1! ”

This sounds simple but is much harder than one might think, especially concerning fear and greed. Not losing money can mean a lot of things. Let it be not FOMO’ing into bullish runs, waiting for retracements, for a key market structure to change from bearish too bullish. Also, investing in fundamentals could mean not to do Bitcoin SV or other Altcoins, which promise high returns but in major players like Bitcoin or Ethereum, which can profit from their network effects.

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Chris MMCrypto

At first, it might seem to have a lower potential, but in the long run, this discipline will eventually pay off. For traders, it merely means to have a clear framework for trading and stick to it – no matter what. If you have emotions while trading, let it be greed or fear – you will lose money!

Q: For that matter, what’s the first tip you would give someone about trading Bitcoin and crypto?

The best tip is not to get REKT. This means once again to wait for retracements and, most importantly, know when to take profits. Most people go in with too high leverage to maximize their gains. Too high leverage in trading eventually leads to you being liquidated or stopped out more often than necessary. Especially for swing trading, we prefer to rather go with lower leverage of 3x or a maximum of 10x.

Q: Please share your short-term Bitcoin price analysis, as well as a longer-term one.

I think the mid to long term price development is the most important one right now. As far as the short term is concerned, we just had a massive dump from $10,250 to $9,350. During this time, Binance just finished their maintenance, and Coinbase was still undergoing theirs. That means the liquidity in the market was significantly lower than it would have been without the maintenance. That reduces the depth of the order book structures globally and makes it easier to dump the price. Especially because of that reason, we do not think that this dump has an essential effect on the mid to long term price of Bitcoin.

With DavinciJ15, we always say, “when in doubt, zoom out.” You cannot notice a change in key market structure on the weekly or monthly candles. That’s why we still expect prices near $ 14’000 towards the halving. In the attached photo, you can see how Bitcoin was in a fantastic fractal, always forming an ascending triangle before the halving. However, as you can see, this one lasts until after the halving, and bitcoin tends to break out after it progressed, more than 80% of the pattern.

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MMCrypto’s long-term price prediction

We could imagine a rejection at the $ 14’000 price level close to the halving and a massive sell of taking the most amount of money from the most amount of people FOMO’ing into the halving, to knock out the All-Time-High after the halving before the end of 2020. Of course, that’s based on fractals, TA and fundamentals. On-chain Fundamentals (SOPR, Exchange Deposits, and many others), which we cover daily on our channel, are so bullish and this analysis.

Q: In your opinion, will we ever see new all-time highs for altcoins? If you had to pick five altcoins to hold for the next ten years, which would you choose?

Yes, we will most probably see a new All-Time High for Altcoins! However, I am referring here to the Altcoin Market Cap. Most of the Altcoins, though, have no future at all! If we have to take five Altcoins, we would probably take Ethereum, Ethereum, Ethereum, Monero, and Ethereum (haha).

As I mentioned earlier, investing in fundamentals is much more critical than in potential short-term gains. If you want to get riskier, you may also have a look into Litecoin, Dash, or risky alternative smart contracts or DEFI-ready platforms.

Q: You have an enormous amount of subscribers (almost 50K); how did you do it? What’s your secret sauce for keeping up a successful stream like yours, day after day?

Thanks for mentioning. Our YouTube Channel grew throughout the 2018/2019 bear market. The most important thing is that we document what we do in our everyday life concerning technical and fundamental analysis. Our subscribers appreciate when we build the bridge to the financial and monetary system, central banking, and quantitative easing.

What most people say is making our channel unique is probably the on-chain fundamental analysis, which we started very early in 2019. That indicates what data is directly pulled from the blockchain. This is revolutionary! No asset in the history of humankind made this analysis possible. You can measure fear, greed, and predict market cycle tops, bottoms, and targets in between. It’s amazing!

Q: Bitcoin in 2020: What’s the highest price Bitcoin will reach during 2020, the year of halving?

We genuinely believe that we can knock out the All-Time High in 2020. We expect a massive selloff before. However, once we eventually break it decisively with follow-through, we are confident that even significantly higher price levels are possible.

Q: And what about 2030?

Until 2030 we are confident that prices of at least $ 1’000’000 are possible. Please note that this is in today’s purchasing power parity. If the money printing continues as it did for the last 49 years, prices denominated in fiat currencies will be much, much higher!

Q: Finally, please share something from your personal life. It can be a special hobby, something you do outside of crypto, or something interesting about you.

I love traveling! Meeting people, exchanging knowledge, and expanding the network is impressive. I mainly travel for networking and of course: food! Officially the MMCrypto Team travels for conferences, though.

https://cryptopotato.com/bitcoin-to-reach-new-ath-in-2020-following-a-massive-sell-off-youtuber-mmcrypto-traders-digest/

cryptohero8
I am a believer of the HODL philosophy because we are still in the nascent stage of blockchain technology. Although we are in a bear market now, my outlook on the adoption and growth of blockchain solutions remains unchanged. Blockchain transactions has been growing exponentially and demand for cryptocurrency like Bitcoin [BTC], Ethereum [ETH], Ripple [XRP], Litecoin [LTC] and other Altcoins will only continue to grow exponentially in the next five to ten years.